Commercial Estates Group has gone under offer to buy the historic Exchange Station in Liverpool.
The group is to pay the Homes and Communities Agency £12m for the 193,000 sq ft converted Victorian train station.
CEG already owns the neighbouring 14-storey office block Silkhouse Court and the acquisition will significantly extend its estate along the Tithebarn Road in the city centre.
Exchange Station is around 50% let and commands rents of around £15 per sq ft.
The HCA took full control of the asset in April 2014 following an agreement with joint venture partner Aviva Investors to close their NorwePP vehicle.
The deal is the latest sign of increasing appetite for office investment in second-tier, regional cities.
Stuart Keppie, partner at Liverpool-based property consultancy Keppie Massie, said: “There has been much more activity in the market over the past nine or 12 months than we have seen for many years.”
